Tds deduction
This query is : Resolved
tailor divyesh
(Querist)
18 April 2012
sir,
My firm building Is Lease
April 2011 To December 2011 Rent Payable In Cash Rent Per month 8000 & Total rent of these Period 72000
January 2012 To March 2012 rent Payable In Chq. Per Month Rent 45000 Total rent Of These period 135000
Give me A Answer My Firm Rent Is TDS Liabilities
My firm building Is Lease
April 2011 To December 2011 Rent Payable In Cash Rent Per month 8000 & Total rent of these Period 72000
January 2012 To March 2012 rent Payable In Chq. Per Month Rent 45000 Total rent Of These period 135000
Give me A Answer My Firm Rent Is TDS Liabilities
18 April 2012
TDS on rent should be deducted if the amout credited or paid or likely to be credited or paid during the financial year exceeds RS.180000(whether paid by way of cash or Cheque or draft or any other mode /payable).
In your case You need to deduct tds U/S 194I at a rate for
1.Plant or Machinery or Equipment-2%
2.Rent on Land or Building (including
factory building) or Furniture or fittings –10%.
In your case You need to deduct tds U/S 194I at a rate for
1.Plant or Machinery or Equipment-2%
2.Rent on Land or Building (including
factory building) or Furniture or fittings –10%.
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